Britain warns against ‘anti-business culture’

Chancellor of the Exchequer George Osborne has vowed to fight an “anti-business culture” in Britain, warning that a row overexecutive pay and bonuses threatens the country’s fragile economic recovery. “Let me say something about the row over bonuses and pay,” Osborne said in a speech to the Federation of Small Businesses. “Of course rewards for failure are unacceptable — and those who believe... [more]

Greece wrangling tempers market momentum

Greek resistance to the strict conditions attached to a bailout fund on Tuesday sapped recent momentum in markets spurred by hopes the global economy is improving, and the euro fell on renewed fears of a messy debt default. The Australian dollar leapt to a six-month high but stocks turned negative after the central bank held rates steady at a review when markets had positioned for a rate cut. Opinions were divided over whether the wrangling... [more]

Energy Secretary Chris Huhne resigns amid speeding charges

Energy Secretary Chris Huhne is to resign from the Government after it emerged he is to face prosecution over allegations that he asked his ex-wife to take a speeding penalty for him. The Liberal Democrat MP has been charged with perverting the course of justice after an investigation into the 2003 incident by Essex Police. His former wife, the economist Vicky Pryce is also facing charges of perverting the course of justice. They are due... [more]

Duke of Cambridge begins Falklands posting

The Duke of Cambridge is beginning his six-week posting in the Falklands amid heightened tensions between Britain and Argentina over the disputed islands. William arrived in the archipelago on Thursday ahead of a tour of duty as an RAF search and rescue pilot. The Ministry of Defence (MoD) said the posting was part of a “routine operational deployment”, despite Argentina likening it to that of a “conqueror”. Tensions... [more]

French banks should come to Britain: Cameron

British Prime Minister David Cameron took a fresh dig at cross-channel rival France Monday, warning that French banks would flee to Britain if Paris introduces a financial transactions tax. In comments aimed squarely at Nicolas Sarkozy after the French president reportedly criticised British industry, Cameron said the concept of the tax at a time of economic difficulty was “mad” and “extraordinary”. “I know... [more]

Assange win would have ‘profound’ effects

WikiLeaks founder Julian Assange’s two-day hearing at England’s Supreme Court gets underway Wednesday, in the latest stage of his lengthy battle against extradition to Sweden to face rape allegations. If the court rejects his case, the 40-year-old Australian will have exhausted all his options in Britain but he could still make a last-ditch appeal to the European Court of Human Rights, prosecutors have said. The Supreme Court,... [more]

FTSE led lower by banks, miners as Greece eyed

The FTSE-100 index fell on Monday, with the absence of a bond deal in Greece and fresh concerns about the debt problems of other euro zone nations keeping investors in cautious mood and hitting risky sectors such as banks and miners. London’s top share index <.FTSE> was down 0.8 percent at 5,685.09 points at 0900 GMT, adding to Friday’s losses and retreating further from a six-month closing peak of 5,795.20 set on Thursday. Banks... [more]

RBS Boss Caves In And Waives £1m Bonus

The Royal Bank of Scotland has announced that its chief executive Stephen Hester has decided to waive his £1m bonus. It comes just hours after the Labour Party said it would force a House of Commons vote calling for Mr Hester to be stripped of his shares-only payment . Mr Hester had been facing mounting pressure to follow the bank’s chairman, Sir Philip Hampton , and forego the award. Sky News City editor Mark Kleinman said: “My... [more]

Klum and Seal split

German supermodel Heidi Klum has separated from British singer Seal after seven years of marriage, the couple confirmed Sunday. “While we have enjoyed seven very loving, loyal and happy years of marriage, after much soul-searching we have decided to separate,” the couple told US celebrity gossip magazine People. “We have had the deepest respect for one another throughout our relationship and continue to love each other... [more]

UK ticket scoops EuroMillions prize

A UK-based ticketholder has won nearly £41 million on the EuroMillions draw, Camelot said. The winner scooped the rollover jackpot of £40,627,241. A Camelot spokesman said: “This is fantastic news – we’re absolutely delighted to have yet another huge EuroMillions win here in the UK. “We have plenty of champagne on ice and look forward to welcoming the lucky ticketholder into The National Lottery millionaires’... [more]

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